ZIP Code · NJ

ZIP 07041

Part of Millburn, NJ

Pop. 7,532·Essex County·22nd most expensive ZIP in New Jersey

Median rent (all units)

$3,196/mo

Year-over-Year

Stable

Month-over-Month

+2.0%

vs US Median

+$1,264

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 07041 · $3,196

More expensive than 93% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,960

1 BR

$2,220

2 BR

$2,680

3 BR

$3,360

4 BR+

$3,810

Research median

$2,680/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

What a typical income covers

30% of the median household income ($202,750) is $5,069 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($3,810).

Cheaper nearby

ZIP 07040, 2 miles away, rents for 10% less ($2,875/mo), about $3,900 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 07041. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$38,352/yr

At $3,196/mo median

Location

CityMillburn

StateNJ

CountyEssex County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (0.0% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+0.0% YoY, +2.0% MoM), not inventory.

Demographics

Who lives here

ZIP 07041 (Millburn, NJ) is majority owner-occupied, has a large share of families with children, has a median income above the national average, 85.1% of residents hold a bachelor's degree or higher.

Population

7,532

Median income

$202,750

Median age

39.8

Renters

31.2%

Age distribution

27.1%

16.7%

29.7%

15.6%

Under 1827.1%

18–3416.7%

35–5429.7%

55–6410.9%

65+15.6%

Gender

50.3%

49.7%

Male50.3%

Female49.7%

Race & ethnicity

49.7%

31.6%

White49.7%

Black3.5%

Hispanic9.3%

Asian31.6%

Other5.8%

Education (25+)

85.1%

No HS diploma2.9%

HS diploma4.8%

Some college7.2%

Bachelor's+85.1%

Housing tenure

68.8%

31.2%

Owner68.8%

Renter31.2%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 07041 in Millburn, NJ has changed in 5 years

Income

$180,000 → $202,750

up 12.6%

Population

7,352 → 7,532

up 2.4%

Renter share

30.2% → 31.2%

+1.0 pts

Bachelor's+

79.9% → 85.1%

+5.2 pts

Median age

40.9 → 39.8

-1.1 yrs

Median household income climbed from $180,000 to $202,750 between 2021 and 2024, a 12.6% shift. Census counts show ZIP 07041 in Millburn, NJ adding about 180 residents over the five-year window, up 2.4% on net. Bachelor's-degree-or-higher attainment moved from 79.9% to 85.1% across the same window.

Community

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Local insights

Tips for renters in ZIP 07041

About renting in ZIP 07041

Last updated: October 17, 2026

ZIP code 07041 covers Millburn, NJ. The median rent here is $3,196/mo as of October 2026. A 1-bedroom rents for a median of $2,220/mo. A 2-bedroom rents for a median of $2,680/mo.

At 19% of local median household income ($202,750/yr), ZIP 07041 ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 07041?

To keep rent at or below 30% of gross income, you would need to earn at least $128,000/year (about $62/hour full-time) to afford the median rent of $3,196/mo in ZIP 07041. The local median household income is $202,750/yr, so the typical household meets that bar.